PNB scam fallout widens as NCLT bars over 60 entities from selling assets

the NCLT has restrained more than 60 entities, including Nirav Modi, Mehul Choksi, various individuals from selling their assets

Amid the ongoing multi-agency probe into the Rs 126 billion Punjab National Bank scam, the NCLT has restrained more than 60 entities, including Nirav Modi, Mehul Choksi, various individuals, companies and limited liability partnership firms, from selling their assets.

The National Company Law Tribunal (NCLT) have passed the directions against Nirav Modi and Mehul Choksi, the alleged main perpetrators of the fraud, as well as their firms and relatives, among other entities, as per a public announcement by the corporate affairs ministry.

The ex-parte order was passed on a petition filed by the ministry under various sections of the Companies